Sands China

Hong Kong-listed Sands China operates the Venetian Macau, Sands Cotai Central, The Plaza and the Sands Macau on the Macau peninsula. Its French-themed Parisian resort is scheduled to open later in 2016. The company is one of six operators licensed to operate in Macau. It was originally granted a license with Galaxy Entertainment, but then split to operate its own properties. The company is a unit of U.S. based Las Vegas Sands, headed by billionaire Sheldon Adelson. It opened Sands Macau in 2004, becoming the first Las Vegas-style casino to open in Macau. Its flagship Venetian was opened in 2007 and has the largest room count in the territory, which has placed it in a favorable position to attract the mass market visitor.

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Macau casino operator Sands China Ltd has announced the issuance of senior unsecured notes due 2026 and 2030, with net proceeds of approximately US$1.5 billion to be used to bolster liquidity amid the coronavirus pandemic. “The duration and intensity of the COVID-19 pandemic and related disruptions are uncertain. It is unknown when or how quickly […]

Macau casino operator Sands China has not been spared by the impact of the coronavirus in Macau, posting only US$9 million in net revenues in April, leading to a net loss of $180 million. This was according to a business update from the operator on Monday, noting that it has enough liquidity to keep its […]

Macau’s second appeals court has cleared casino operator Sands China of any legal responsibility in relation to the suicide of one of its guests in 2016. According to a report from Macau Business, the case involves a woman from mainland China who was found dead in her hotel room in Sands Cotai Central on July […]

Macau casino operator Sands China on Tuesday announced it has entered into a procurement deal with its parent company, LVS Group. Under the agreement, Sands China will act as an agent to procure and provide equipment and supplies from the Asia Pacific to the LVS Group. The will be achieved by Sands China buying equipment […]

Sands China has announced that it is now operating the first solar thermal-heat pump hybrid energy plant in Macau’s IR industry at the Sands Cotai Central facility. The energy plant generates both heating and cooling for 2,000 hotel rooms of the Sky Tower at Sheraton Grand Macao Hotel, Cotai Strip, eliminating the need for a […]

Macau casino operator Sands China on Thursday announced a net loss of US$166 million for the first quarter of 2020. This is in comparison to a net income of $577 million in the first quarter of 2019. Total net revenues fell 65.1 percent to $814 million. Mr. Sheldon G. Adelson, chairman, and chief executive officer […]

The board of directors of Sands China has decided against the payment of a final dividend for the year ended December 31, 2019, in view of the impact of Covid-19. A company statement to the Hong Kong Stock Exchange explained, “Visitation to Macao has decreased substantially since January 2020 as a result of the Covid-19 […]

Sands China Ltd. is donating MOP 1.65 million (US$205,693) to 33 elderly centers and rehabilitation centers to assist them to take measures to combat the spread of the novel coronavirus (COVID-19) and to safeguard the health of their over 3,100 service users. Each of the 33 beneficiaries – government-funded and private elderly homes and rehabilitation […]

Sand China has reported profits of over US$2 billion for the year 2019, which was an 8.4 percent advance over the previous year’s figure. Net revenues of over US$8.8 billion represented a 1.7 percent increase. The statement from Chairman and CEO Sheldon Adelson noted, “Sands China has now invested nearly US$14 billion to deliver on […]

Sands China has refuted an online video purporting to show Sands China’s current team member accommodations, which has made its rounds across social media. Sands said the video contains footage of a temporary rest area that was prepared for team members during a typhoon in the past. “The company takes the health and wellbeing of […]

In light of the current global shortage of facemasks in response to the coronavirus epidemic, Sands China Ltd. is donating 500,000 medical facemasks to the Macao SAR government, as part of the company’s pledge to support Macao’s efforts to combat the fast-spreading virus. Macao Secretary for Social Affairs and Culture Ao Ieong U accepted the […]

Macau casino operators Sands China and MGM China have pledged donations to help contain the spread of the coronavirus and to help assist relief efforts in mainland China and Macao. Sands China has pledged MOP 20 million to assist the mainland in its efforts to combat the virus, and another MOP 5 million to support […]

Sands China is paying a discretionary bonus and salary increase to its employees, with the former having taken place on January 23, and the latter to take place from March 1, 2020. Sands said that a discretionary bonus equivalent to one month’s pay will be paid to non-management team members who have been with the […]

Hong Kong-listed Sands China has declared an interim dividend of HK$0.99 per share payable to shareholders of the company. According to a filing from the company to the Hong Kong Stock Exchange, shareholders eligible for the dividend are those whose name appears on the register on February 5, 2020. It is expected the dividend will […]

A group of 122 Sands China team members has become the latest to complete the company’s annual advanced responsible gaming training program Tuesday and Wednesday at Conrad Macao, Cotai Central. Through their training as Responsible Gaming Ambassadors, they gain enhanced knowledge of problem gambling and awareness of the importance of responsible gaming. Since 2013, Sands […]

Sands China and Galaxy Entertainment Group retained their top position in Macau gaming market share in 19H1, according to analysts at Deutsche Bank. The note from the analysts, cited by Tribuna de Macau, noted that Sands China was at the top of the pack, with 24.1 percent of the total market, followed by Galaxy Entertainment […]

Sands China vice-president of integrated marketing & communication, Cristina Quental said on Wednesday that the Londoner Hotel will be “fully completed” in July 2020, Macau Business reports. Quental was speaking at an event at the French Chamber of Commerce on Wednesday. The new Londoner Hotel will replace the Holiday Inn Macau Cotai Central, with 1,200 […]

Sands China said its net income increased 19.7 percent to $511 million in the second quarter of 2019, due mainly to stronger base mass. Total revenue for SCL increased 1.4 percent to $2.1 billion, while adjusted EBITDA grew 2 percent reaching US$765 million – slightly below forecasts from Jeffries and Bloomberg. Sands said that the […]

IHG, one of the world’s leading hotel companies, and Sands China Ltd. announced today that The Venetian Macao and The Parisian Macao will become InterContinental Alliance Resorts partners, effective immediately through 2027. The Londoner Hotel in Macao is also set to join the alliance when it is completed in 2020. Together with the existing two […]

Sands China Ltd. honored more than 1,600 team members for reaching their 15-year milestones with the company during a June 11 ceremony at Sands Macao and two ceremonies on June 13 at The Venetian Macao. Sands China Ltd. President Dr. Wilfred Wong presented each team member with an Honourable Service Award – a 15th-anniversary souvenir […]

Employees of Sands China will be able to enroll in the government-promoted Non-Mandatory Central Provident Fund (CPF) Scheme starting from July 1 this year, according to a press release from the company on Monday. Local team members who join the company from July 1 onward will have the option to sign up for the retirement […]

Sands China revealed more details about the planned revamp of its Sands Cotai Central property into a London-themed resort, saying former England footballer David Beckham will help to design some of the luxury suites.

Macau casino operator Sands China has continued its responsible gaming training course in Macau, educating its team members on how to create a positive environment at all its properties. Launched in 2013, the training programme is the first of its kind, and is the only one in Macao done in coordination with the University of […]

Macau gaming operator Sands China is investing in a number of initiatives to reduce its impact on the environment, such as solar panels, recycling policies, and investing in other green technology. Speaking to Macau Business, the director of sustainability facilities of Sands, Meridith Beaujean, said that the company has been looking at investing in solar […]

Macau casino operator Sands China will remain as the mass market and non-gaming leader in Macau for at least the next five years, according to a note from Bernstein on Monday. The company upscaling and expansion of Sands’ Macau properties provide a near-term catalyst for growth, profitability and cash flows. For some time now, analysts […]

Record mass table revenues helped to boost total net revenue for Sands China, increasing 8 percent year-on-year to $2.3 billion in the first quarter of 2019. “We (LVS) are pleased to have delivered strong financial results in the quarter, led by consistent growth in the mass and non-gaming segments in Macao,” commented Sheldon Adelson, chairman, […]

Macau’s casino operators spared no expense raising awareness around green initiatives during the city’s annual “Green Week”, held last week in Macau. The Green Week was also the home of the 2019 edition of the Macao International Environmental Co-operation Forum and Exhibition (2019MIECF), a forum discussing ecological civilization, green finance, water resources, and marine pollution, […]

While China’s cyclical slowdown will have its impact on Macau, analysts from JP Morgan are advising investors to “climb the wall of worry” and hold their casino stocks over the long term. In a report published on Tuesday, the analysts, which include DS Kim and Sean Zhuang, said that negative sentiment has already been priced […]

Total revenue for Sands China increased by 13 percent to $2.2 billion in the third quarter of 2018, according to the company’s results filing on Thursday. Adjusted property EBITDA reached $754 million, an increase of 15.8 percent year-on-year, while net income up 13 percent to $454 million. Bernstein analysts said the results were in-line with […]

Some of Macau’s operators on Wednesday celebrated the first trips across the new Hong Kong-Macau-Zhuhai bridge, which is expected to drastically improve accessibility to the gambling hub. Sands China held a welcoming party at The Parisian Macau for several busloads of passengers who arrived at 11 a.m. from Hong Kong after crossing the world’s longest […]

The Sands Cares Ambassador programme added 1,700 new volunteers to its ranks, after hosting several back-of-house recruitment roadshows Sept. 4-7 at Sands Macao, The Venetian Macao, Sands Cotai Central, and The Parisian Macao. The total number of Ambassadors in the programme now stands at more than 3,300. The recruitment drive kicks off a series of […]

Nearly 100 Sands China team members attended the company’s annual advanced responsible gaming training programme, which is the only one in Macau offered in coordination with the University of Nevada, Las Vegas.

Around 60 volunteers from the Sands Cares Ambassador programme helped clean up Hac Sa beach Tuesday morning, where they disposed of branches, rubbish, and other debris, and helped shovel displaced sand back onto the beach. The event was in response to calls from the Macau Civic and Municipal Affairs Bureau (IACM) to help alleviate damage […]

Macau’s operators announced Monday they were mobilizing staff to help with the cleanup efforts after Typhoon Mangkhut, which swept through the territory at the weekend forcing the closure of casinos for the first time since concessions were granted in 2002.

The development of the new 280-suite tower as part of the Four Seasons Hotel expansion is expected to complete in 2019, according to an interim report from Sands China. Sands said that structural work of the tower has finished, and they expect to commence build out of the suites sometime in 2018. The new tower […]

Sands Resorts Macao has taken six prestigious accolades at the 2018 Marketing Events Awards recently held in Hong Kong, including two gold awards, a silver and three bronzes. Sands Resorts Macao won Gold in ‘Best Corporate Event’ and Gold for ‘Best Use of Venue’ for The Venetian Macao 10th Anniversary celebration; Silver in ‘Best Exhibition […]

Sands China reported a 25 percent gain in adjusted property EBITDA to $750 million in 18Q2, helped by strong VIP growth. The results came in line with analyst expectations, with total net revenue increasing 18 percent to $2.1 billion and net income increasing 30 percent to $427 million in the quarter. According to a note […]

Sands China has inaugurated its second cohort of management team members into its Sands China International Strategic Leadership Programme for Integrated Resorts (ISLP) with a ceremony at The Venetian Macao. The team members will be sent around the world receive international leadership development through this first-of-its-kind programme. Between June and November 2018, the 26 ISLP […]

The latest financial results from Macau’s operators showed a healthy increase in slot machine revenue, indicating that a mix of product innovation, evolving customer preferences and new capacity are beginning to help them gain traction. According to figures from Macau’s Gaming Inspection and Coordination Bureau (DICJ), GGR from slot machines in the enclave was MOP […]

Macau casino operator Sands China has announced it is paying a one-off special bonus to eligible employees, rewarding them for their contribution towards the company’s ongoing success and achievements. The bonus is set to be paid on August 31, 2018 – and will benefit 99 percent of Sands China team members. “Sands China has always […]

Sands China president Wilfred Wong says he has observed a rise in multi-generational families travelling to Macau. “I’m beginning to see three generations travelling together. Grandparents, parents and children.” “That’s why in our new Londoner scheme, we are creating some rooms that would be big enough for two or three bedrooms to accommodate this new […]

Three Sands Resorts hotels received accolades at the inaugural MICE China Forum & Awards Ceremony, which took place in Macau on May 4. The three Sands Resorts Macao hotels, including The Venetian Macao, Conrad Macao and Sheraton Grand Macao Hotel in Cotai Central were named as recipients of organizer and leading meetings and events publisher […]

Sands China’s Professionalism Training for Gaming Practitioners programme, first launched in July 2016, is on schedule to train 3,000 team members before the end of the year. The programme, which is co-organised by the Labour Affairs Bureau (DSAL), the Macau Federation of Trade Unions (FAOM) and Sands China Ltd., is said to have trained over […]

Macau casino operator Sands Macau has announced that more than 6,000 team members are celebrating their 10-year service anniversaries this month, across 60 departments. With Sands China operating in Macau for over 13 years, more than 8,500 Sands employees have been with the company for 10 years or more, with this latest group of 6,200 […]

Wynn Resorts is expected to post the highest growth in property EBITDA for Q1, with MGM Resorts lagging Macau’s operators, according to Morgan Stanley projections. The firm said it expects combined property EBITDA growth of 26 percent year-on-year in the first three months of the year to $2.4 billion. Gross gaming revenue in the quarter […]

Sands China has become the first gaming operator in Macau to earn an ISO 9001:2015 certification for the quality management of its facilities department. The scope of the certification covers all Sands China properties – The Venetian Macao, The Plaza Macao, Sands Cotai Central, The Parisian Macao, and Sands Macao – a first for an […]

Shares in Macau’s gaming operators have surged 82 percent since the fourth quarter of 2016 and as a result most are overvalued, with investors failing to factor in potential risks from a cyclical economic downturn and license renewals, Morningstar warns. The firm says that Galaxy Entertainment, Wynn Macau and its parent company Wynn Resorts, Melco […]

The Macau government already has a timetable for new gaming concession public tenders, but has not yet provided operators with more details, Sands China President Wilfred Wong was cited as saying by local media. “Every one of us is eagerly waiting for the government to announce the details and I believe they are now working […]

Cotai Water Jet and Cathay Pacific have signed an innovative codeshare agreement that will make it easier for passengers flying to Hong Kong to book ferry tickets to Macau. This arrangement is aimed at boosting connectivity and accessibility to Macau for international travellers. Starting from Feb. 26, 2018, the partnership will see Cathay Pacific add […]

Sands China Ltd. is implementing a paid paternity leave policy for eligible team members as of Feb. 16, 2018, according to a company announcement. Dr. Wilfred Wong, president of Sands China Ltd., said: “The family is the cornerstone of our society. Sands China values team members’ well-being and work-life balance, and is committed to […]

A group of around 35 Sands China Care Ambassadors spent time Saturday volunteering at Macau Holy House of Mercy’s Welfare Shop, where they distributed 350 food hampers to disadvantaged families ahead of the upcoming Year of the Dog. It is the sixth year in a row for Sands China to support the Welfare Shop, including […]

Sands China and the University of Macau on Tuesday honoured the third group of graduates for completing the one-year Diploma Programme in Business Management, with a graduation ceremony at the university. “One of the best ways we can invest in our company and in Macao is to invest in our team members,” said Antonio Ramirez, […]

Eligible full-time staff working at Sands China’s properties in Macau can expect to receive an increase in their salaries starting March 1, 2018. The increase in salary see with full-time employees of eligible grades earning monthly salaries less than or equal to MOP 12,000 (US$1,490) receive a pay rise of MOP 600. Team members earning […]

The credit profile of Macau’s casinos operators is likely to improve in 2018, though upgrades are not likely to be on the cards due to the intrinsic volatility in the industry and expected dividend increases, according to a report from Standard & Poor’s. “We anticipate continued gross gaming revenue growth in Macau, though at a tamer […]

The strong VIP growth observed in 2017 would have left Las Vegas Sands Corp. in the dust if it weren’t for the opening of The Parisian, said writers for Motley Fool on Sunday. “Las Vegas Sands Corp. didn’t have a bad 2017 by market standards, climbing 35 percent for the year. But the company had […]

Sands China team members and executives visited residents of Navegantes Street and Lai Chi Vun in Coloane Wednesday, where they extended their best wishes to residents whose homes had recently been repaired through the company’s assistance. Following August’s Typhoon Hato, a group of Sands China team members took the initiative to organize a project to […]

The Adelson Family Foundation on Tuesday presented a cheque for more than $1.9 million to the University of Saint Joseph to assist its recovery efforts after Typhoon Hato and subsequent storms caused major damage to its new campus in August and September last year. Executives from Las Vegas Sands Corp. and Sands China Ltd. presented […]

Gross gambling revenue in Macau is likely to rise 14 percent in 2018 before moving on to set record highs in 2019, Bloomberg reported, citing a survey of 10 analysts. GGR is likely to top the MOP361.86 billion ($45 billion) peak set in 2013 before the Chinese government’s clampdown on corruption triggered a slump in […]

Sands China Ltd. presented a cheque for just over MOP 2 million (US$248,460) to Macau Holy House of Mercy on Tuesday to help with the cost of restoring its elderly home, which was damaged during the typhoon in August. Sands China Ltd. president Dr. Wilfred Wong and vice president of corporate communications and community affairs […]

Sands China is bolstering its offerings for the Meetings, Incentives, Conferences and Exhibitions (MICE) industry with the launch of a new promotional offer named ‘Meeting Beyond Imagination.’ The offer allows event professionals and conference organizers to enhance their events with a wide range of entertainment and leisure activities ‘Meetings Beyond Imagination’ is available at all […]

Sands China Ltd. held its 2017 Sands Supplier Excellence Awards at The Venetian Macao last Wednesday, where the company recognized the cooperation and services of several of its outstanding suppliers. Held at the end of each year, the awards are a global initiative of Sands China’s parent company, Las Vegas Sands Corp. “For five years […]

Sands China Ltd. celebrated the 10th anniversary of The Venetian Macao Monday, highlighted by a ceremony at the outdoor lagoon of the iconic integrated resort. Opened on Aug. 28, 2007, with great expectations for its success, the company’s anchor property on the Cotai Strip quickly became a must-see landmark destination that redefined the Cotai skyline, […]

The speaker lineup for the MGS Entertainment Show Summit at The Venetian Macao will feature some of the most influential and knowledgeable people in the regulatory, government relations, gaming, entertainment and technology worlds. The Macau Gaming Equipment Manufacturers Association (MGEMA), the local association that has organized the show since its inception five years ago, is […]

Sands China Ltd. is participating in Responsible Gaming 2017 with several initiatives supporting the annual event organised by the MSAR Social Welfare Bureau, the MSAR Gaming Inspection and Coordination Bureau (DICJ), and the University of Macau. Taking place from October through December, Sands China’s Responsible Gaming 2017 activities aim to further increase team members’ awareness […]

In support of the environmental policies of the Macau SAR Government and the objective of turning Macau into a green city, the city’s six casino operators are to introduce new energy/electric shuttle bus services for passengers, for which the trial run will start with the Cotai Connection route. To alleviate road traffic, the six operators […]

Sands China delivered its 17Q3 results on Wednesday, reporting revenue and EBITDA growth in line with consensus estimates. According to a filing from Sands China, total net revenues for Sands China rose 12.2 percent to $1.93 billion in 17Q3, while net income was posted at $403 million, an increase of 24.4 percent year on year. […]

Casino operator Sands China says it has earned multiple awards in Greater China this year for its innovative human resources initiatives. In April 2017, Human Resources Magazine’s ASIA Recruitment Awards 2017 gave Sands China a Gold Award for Best Recruitment Innovation by a Corporate HR Team for the innovative and efficient recruitment process at the […]

Sands China Ltd. delivered its annual Responsible Gaming Team Training Programme at The Venetian Macao’s Adelson Advanced Education Centre for the fifth consecutive year Monday and Tuesday. The elite programme is part of the company’s effort to enhance team members’ knowledge of problem gaming and awareness of the importance of responsible gaming. Certificates issued by […]

Macau industry EBITDA growth is expected to slow in the third and fourth quarter of 2017, with concerns of slowing mass growth, risks of premium mass and a macro slowdown in China, according to Morgan Stanley analysts. “We expect YoY growth in Macau industry EBITDA to slow down from 28 percent in 17Q2 to 16 […]

Shares in Macau’s casino operators listed in Hong Kong fell on Monday after figures from the key Golden Week holiday showed a “disappointing” mix in gross gambling revenue. According to Bernstein Research, GGR from Oct. 1 to 8th was MOP8.5 billion ($1.06 billion), which was in line with estimates. The figure is 49 percent higher […]

Macau has lost two of its non-gaming attractions this past weekend, with Sands Cotai Central hosting its final Po’s Kung Fu Feast Character Breakfast on Sunday and Studio City closing its House of Magic attraction. Sands announced at the end of September that it ended a deal with Dreamworks Animation to use cartoon characters from […]

In the aftermath of recent typhoons, Sands China Ltd. continues to contribute toward various disaster relief efforts including technical and professional support, transportation, clean up, SME support and long-term assistance. Among these efforts, the company is providing ongoing assistance to several Macao non governmental organisations. Soon after Typhoon Hato, Sands China dispatched a team of […]

Casino operator Sands China on Monday announced it will be contributing MOP 970,000 (US$120,640) in donations for scholarships and fellowships at a number of Macau universities. The company reiterated its support of local students at a cheque presentation ceremony, and acknowledged the importance of higher education in nurturing Macau’s talent. Dr. Wilfred Wong, president of […]

In the aftermath of recent typhoons, Sands China has been contributing toward various disaster relief efforts including transportation, technical and professional support, SME support and long-term assistance. Among these efforts, the company is providing continued assistance to Macao non governmental organizations, assisting Caritas Macau, Macau Special Olympics (MSO), and the Association of Parents of the […]

Macau casino operator Sands China was the recipient of two Gold Awards at the 2017 PATA Travel Awards, held at The Venetian Macau on September 15, 2017, as part of PATA Travel Mart 2017 travel fair. The Gold Awards, in the categories of Environment – Corporate Environmental Programme and Marketing Media – Travel Advertisement Broadcast […]

Sands China Ltd., along with the Adelson Family Foundation have pledged to donate a total of MOP 65 million (US$8.1 million) to assist with longer term relief, recovery and rebuilding efforts in Macau. “The thoughts and concerns of the Adelson family and our team members around the world have been with the entire Macao community, […]

Macau’s casino operators have been seen contributing to relief efforts following Typhoon Hato, which battered the gaming hub last week. MGM China Holdings have pledged MOP 30 million (US$3.7 million) to rebuild Macau following Typhoon Hato. The distribution of the pledge will be decided in the coming days and months with guidance from the […]

Sands China is planning to apply a London theme to the four iconic towers of Sands Cotai Central, local media reports. According to an unnamed source speaking to Macau Business, the outside surrounding of the four towers will host several characteristic features of the city, while the interior of the hotels will also see changes […]

Sands China has joined the group’s volunteer effort to build 100,000 hygiene kids for Clean the World to help improve the health and wellbeing of people in need. Kits assembled Tuesday by Sands China employees and other volunteers will go to Children’s International which will deliver the 35,000 kits to families in the Philippines. Sands […]

Venetian Macao Limited (VML) is terminating its gaming promotion agreement with one of Neptune Group’s major junket partner, Hou Wan Entertainment Company Ltd. On Monday, Hou Wan received notice from VML that its gaming promotion agreement will terminate on August 30, 2017. Hou Wan currently operates 10 VIP tables in Sands Macao. As of the […]

Sands China Ltd. has won the prestigious Best of Show – Brand award at The Marketing Events Awards 2017 North Asia for the opening of The Parisian Macao on September 13 last year. The award ceremony, held in Hong Kong on July 21, saw Sands China pick up five golds for Best Large Event, Best […]

Total net revenues for Sands China increased 23 percent year-on-year to US$1.8 billion in the second quarter of 2017, driven by strong mass gaming revenue growth. Net income for Sands China increased 37.6 percent year-on-year to US$326 million in 17Q2, compared to US$237 million in 16Q2. “During the quarter both our Macao and Singapore operations […]

Sands China on Tuesday announced the launch of its Strategic Leadership Programme for Integrated Resorts – with a kick-off ceremony at Sands Cotai Central. Aimed at developing leaders in integrated resort management, the leadership programme will send a group of local management team members around the world to receive leadership development from three prestigious universities […]

The Macau government is looking at the possibility of amending the terms and conditions relating to the refreshment of gaming rights for Macau’s current gaming concessions and sub-concessions. SJM’s and MGM’s concessions are set to expire in 2020, while Wynn’s, Galaxy’s, Melco’s and Sands’ licenses are set to expire in 2022. According to a government […]

Wynn and Galaxy are expected to outperform over MGM, Melco and SJM during the 17Q2 results season, driven by market share gains in both VIP and mass, says Morgan Stanley. The brokerage in a Thursday note pointed to Galaxy and Wynn Macau to be their top picks (previously Melco) due to more attractive valuation and […]

The first batch of Sands China team members graduating from the Professionalism Training for Gaming Practitioners programme were honored on Thursday at The Venetian Macau, said the operator in a press release. Co-organized by the Macau Federation of Trade Unions (FAOM), the Labour Affairs Bureau (DSAL) and Sands China Ltd., the training programme launched in […]

Las Vegas Sands President and Chief Operating Officer Rob Goldstein says Macau needs more hotel rooms to fully benefit from the potential of the mass market. In a “fireside chat” with Bernstein analysts at their Strategic Decisions Conference, Goldstein said even with the opening of MGM China Holdings’ and SJM Holdings’ two new Cotai resorts […]

The Neptune Group says the Venetian Macau has terminated an accord with one of its junket operators that accounts for about 41.3 percent of group revenue. The Venetian wrote a letter to Hao Cai Sociedade Unipessoal on May 31 informing the operator of the termination. Hao Cai operates 14 VIP tables at the casino. In […]

Gross gambling revenue for May in Macau jumped 23.7 percent, far exceeding analysts’ expectations, most likely due to continued strength in the VIP market. Total revenue was MOP22.7 billion ($2.8 billion), according to figures from the DICJ. That far exceeded the consensus expectation for growth of 16 percent in the month. The strong gain came […]

Macau’s casino operators say they would like to be able to offer sports betting to their clients, given the huge level of turnover in Asia, with Sands China saying it may seek cooperation with the current holder of a monopoly license to bet on sports. Macau Slot is the only operator able to offer sports […]

Sands China’s new French-themed Parisian resort has won an award for shopping center of the year at an event held in Dubai. The 300,000 square foot mall won the Retail & Leisure International Shopping Center 2017. It was also shortlisted in the category of Most Innovative Retail & Leisure Concept; International Retail & Leisure Destination […]

Sands China President Wilfred Wong says he expects the opening of the bridge linking Hong Kong, Macau and Zhuhai to trigger a significant interest in MICE business. The long-delayed bridge, which is now expected to open later this year, will allow visitors to connect directly from Hong Kong’s international airport, which has about 1,100 flights […]

Gross gambling revenue is likely to gain more than 16 percent in Q2, but will be down about 5 percent sequentially from Q1, while the second half of the year will decelerate further due to a fall off in VIP revenue, Bernstein Research estimates. In 2H, the firm expects growth to be about 5 percent […]

Influential industry speakers are set to address attendees at this year’s Global Gaming Expo Asia (G2E Asia). Francis Lui, deputy chairman of the Galaxy Entertainment Group, will provide opening remarks at 9:30am on May 16. The conference program includes other industry experts who will address: Status and projections for the Asian market; Integrated Resort products […]

Macau casino operator Sands China reported an 11.5 percent year-on-year increase in profit to US$349 million in the first quarter of 2017, compared to US$313 million in 16Q1. Total net revenues for Sands China increased 15.5 percent to $1.9 billion in 17Q1. Adjusted EBITDA increased 20.5 percent to $624 million in the quarter. Sands China’s […]

Casino operator Las Vegas Sands reported strong results in 17Q1, matching consensus expectations of $3.1 billion in revenue for the quarter. The casino operator, which owns integrated resort and casino developments in Macau, Singapore and Las Vegas, reported $578 million in net income for the quarter, an increase of 41.3 percent. Operating income increased 30.2 […]

Macau casino operator Sands China Ltd. has appointed Sun MinQi as its senior vice president and chief financial officer of the company, with effect April 24, 2017. According to a filing from the operator, Mr. Sun was previously a director of finance for the company, responsible for managing financial strategy and financial planning and analysis […]

Sands Cotai Central will celebrate its 5th anniversary with special promotions and offers for visitors and hotel guests from April 10 – May 7, 2017. A commemorative celebration was held on April 10 in Paradise Gardens to officially mark the occasion, which saw invited guests and visitors treated to a specially designed birthday cake, a […]

Sands China has launched a new program to help support local small and medium-sized suppliers, which will include invitational matching sessions for businesses to connect with Sands China user departments. To be known as the F.I.T. programme, it will target small and micro companies, “Made in Macau companies and Macau young entrepreneurs. The programme aims […]

Sands China said its board has recommended a final dividend of HK$1.00 ($0.13) per share for 2016, unchanged from the prior year. The dividend will be paid on June 23 to shareholders on record on June 5. The company, which opened its Parisian resort in September last year, posted a 16.1 percent decline in profit […]

Macau’s gross gaming revenue growth is expected to moderate in March after a near 18 percent jump in February that topped expectations, analysts say. Buckingham Research Group says it sees March GGR growth in a range of 10 percent to 12 percent, while Bernstein is expecting a range of 9 percent to 11 percent. Buckingham […]

Sands China president and chief operating officer Wilfred Wong is confident the company will be able to meet the stricter technical standards on smoking lounges, Macau Daily Times reports. “We actually researched and discussed a lot before submitting the proposals to the government and obviously we are confident that we could achieve those standards,” said […]

Sands China posted a 16.1 percent decline in profit for the full-year 2016 to $1.2 billion, down from $1.5 billion in 2015, according to a preliminary announcement of its annual results. Net revenue was $6.65 billion, down 2.4 percent compared to $6.8 for the year ended Dec. 31, 2016, while adjusted EBITDA for the year […]

Casino operator Sands China has confirmed the resignation of its chief financial officer Stephen Law Cheuk-kin, after only four months into the role. According to the South China Morning Post, Mr. Law, who quit as the finance director of the Hong Kong MTR Corporation last year, had only taken up the position with Sands China […]

Hard Rock International has announced the launch of a newly created division of the company, focused on integrated resort opportunities in Japan. According to a statement from the company on Monday, the new division, Hard Rock Japan LLC will be led by former Sands China chief executive Edward Tracy who will serve as its chief […]

Sands China Ltd. has announced it will be paying a discretionary bonus and increasing the salaries of all eligible employees by an average of 2 to 6 percent, according to a company press release. Taking effect March 1, 2017, eligible full-time employees earning monthly salaries less than or equal to MOP12,000 (US$1,500) will receive a […]

Las Vegas Sands posted a 5.6 percent year-on-year increase in net income for the fourth quarter of 2016 to $607 million. The casino operator, which owns and operates casinos in Las Vegas, Pennsylvania, Singapore and Macau, saw a combined total of $3.1 billion in revenue in the quarter, a rise of 7.4 percent year-on-year. Revenue […]

Macau’s casino operators tumbled 3 percent on Tuesday after the Chinese currency regulator announced extra requirements for citizens to buy foreign exchange, Bloomberg reports. Over the weekend, China’s foreign exchange regulator said it would step up scrutiny on individual foreign currency purchases and strengthen punishment for illegal money outflows. “There have been leaks in China’s […]

Sands China Ltd has been awarded ‘Best Hotel Development’ for The Parisian Macao at the China Property Awards 2016 held in Hong Kong on December 7, 2016. The Parisian Macao is the integrated resorts’ newest property which opened on September 13 and features a half-size replica of the Eiffel Tower. The China Property Awards are […]

Japanese and Macau gaming related stocks on Monday saw an upswing in share price after Japan’s casino bill passed a Lower House committee on Friday, according to media reports. Michael Penn of Shingetsu News Agency speaking to AGB maintains that the LDP and Isshin are still expected to pass the Casino Bill through House of […]

Sands China held its fourth annual 2016 Sands Supplier Excellence Awards at the Venetian Macao on Thursday, recognizing the outstanding cooperation and services of its suppliers. Held at the end of each year, the awards are a global initiative of Sands China’s parent company, Las Vegas Sands Corp. “This is Sands China’s fourth year to […]

The Macau government is planning to introduce a bill that would require visitors to disclose cash holdings of more than MOP 120,000 (US$15,000) at entry, local media reports. Executive Council spokesman Leong Heng Teng said the measure would help to prevent money-laundering activities in the city. He made the comments when introducing the bill at […]

Sands China and MGM China have been cleared from alleged violations of Macau’s anti-smoking law, local media reports. In August, the Health Bureau issued an official notification for the investigation of MGM Macau after its workers accused the operator of setting up smoking zones in gaming areas meant for non-smoking activities. In the case of […]

With Macau’s six operators having reported their third quarter results, Union Gaming says mass revenues showed solid growth in the quarter. “What we found was very encouraging and backs up various management commentary of notable mass market strength and our view that we’re seeing an inflection point,” said the brokerage in a note on Thursday. […]

Sands China Ltd. kicked off its support of Responsible Gaming 2016 earlier this month with a series of initiatives in support of the annual event organised by the MSAR Social Welfare Bureau, the MSAR Gaming Inspection and Coordination Bureau, and the University of Macau. Lasting from early October through January 2017, Sands China’s Responsible Gaming […]

The Mohegan Tribal Gaming Authority has added Robert Rubenstein as a vice president and its general counsel, local media reports. Rubenstein was poached from his role as general counsel for Sands China Limited. “MTGA is more than excited to welcome Rob and his impressive wealth of knowledge, experience and leadership acumen to the team,” an […]

Visitors to Asia’s gaming hub rose nearly 8 percent year-on-year during the first seven days of Golden Week. “Premium mass and VIP are performing well, but grind mass has been soft.” added Wells Fargo on Friday while commenting on visitor growth during Golden Week. Hotel rates were down nearly 50 percent during the week, added […]

A group of Sands China team members visited attractions in Zhuhai’s Hengqin New Area this week, according to a press release from the company on Thursday. The trip was said to be part of the operator’s efforts to help its staff understand the opportunities and developments in mainland China. “As the largest operator of integrated […]

Sands China’s Parisian has seen strong foot traffic since opening, according to Union Gaming in a note on Monday. The French-themed casino resort opened its doors on September 13, marketed as a high-quality but affordable offering with a focus on the mass market. “We think Parisian is the right product targeting the right market segments […]

Fitch’s Alex Bumazhny said that the firm is projecting approximately a 5 percent decline in Macau gaming revenue for 2016. Year-to-date revenues are down 9.1 percent, but there are softer year-on-year comparisons ahead, plus the market should get a boost from the Wynn Palace and The Parisian openings, Bumazhny, Fitch’s senior director, corporate ratings – […]

Macau’s hotel room rates will be further pressured by the openings of new gaming projects, according to a note from Wells Fargo Securities on Monday. “Macau hotel rates [are] down 2 percent year-on-year in September, and down 13 percent in October/November.” On Tuesday, Sands China officially opened the doors of its $2.7 billion Parisian Macau, […]

The opening of the Parisian Macau will not cannibalize the firm’s existing Macau properties, said Wilfred Wong, president and chief operating officer of Sands China, quoted by local media. Instead, the new venue will stimulate new demand, he said. “…We’ve done a series of promotions, particularly through social media – we have now got a […]

The Parisian Macau – which opens its doors next week, will be opening with 410 gaming tables, says Sands China’s president and chief operating officer Wilfred Wong. Of the gaming tables, there will be a total of 49 for VIP gambling, said Wong, who was quoted in a report from Macau Daily News. Over the […]

Sands China’s Parisian Macau is expected to bring “a touch of Paris” to the region, says Jesko Von Den Steinen, senior advisor for the Parisian Brand Identity. On the sidelines of the France Macau Business Association Breakfast Meeting last week, interviewed by Macau Daily Times, Steinen noted the Parisian’s unique architecture and quality of service […]

Sand China’s newest development, The Parisian Macau has been given the same allocation as that of Wynn Palace – 150 total tables. The announcement was made by Macau’s Secretary of Economy and Finance, Lionel Leong over the weekend, according to a note from Union Gaming. Similar to that of Wynn Palace, the new development will […]

Analysts have warned against over-enthusiasm for Macau casinos, after short-term rallies were observed in the sector. Morgan Stanley’s Praveen Choudhary said the short-term rallies seen in the sector over the past three days were “unsustainable, as fundamentals have not improved”. Sands China saw its shares rise 6 percent after it reported its second quarter results, […]

Sands China president Wilfred Wong is hoping the government will grant more gaming tables for The Parisian resort given the amount it had invested in non-gaming elements in the region, reports Macau News. Wong made the comments while speaking to reporters about the opening date for The Parisian, which is scheduled for September 13. “…95 […]

Sands China saw modestly weaker than expected results in 16Q2, but saw positive growth in its mass / premium segments, say analysts. In the second quarter of 2016, Sands China reported adjusted property EBITDA of US$488 million, 6 percent below consensus, which was largely due to low hold and volume in VIP, as well as […]

Bernstein has lowered its EBITDA estimate for Sands China on concerns of a seasonally soft quarter. The brokerage published the note on Monday, saying its estimate for 16Q2 EBITDA was cut by 6 perecent, and 2 percent for the full year. Its 2017 forecast was also trimmed by 1 percent. “Q2 data points have all […]

Sands China held the inauguration ceremony of Macau’s first training course for gaming practitioners on Tuesday. Co-organized by the Macau Federation of Trade Unions (FAOM), the Labor Affairs Bureau (DSAL), and Sands China Ltd, the company’s “Professionalism Training for Gaming Practitioners” is the first course of its kind in Macau for gaming employees. The training […]

Sands China’s president and chief operating officer, Wilfred Wong has announced the Parisian Macau will feature VIP rooms when it opens. According to Jornal Tribuna de Macau, Wong said the company is still finalizing plans for the casino, and did not disclose how many VIP rooms the casino would have. In regards to gaming tables, […]

Sands China has announced that its subsidiary VML US Finance LLC (VUF) has entered into a new amendment and restatement agreement with lenders for its $1 billion loan. In a filing to the Hong Kong Stock Exchange, under the new loan agreement, each consenting lender under the existing credit agreement has agreed to extend the […]

More than 1,500 Macau locals attended the Sands Macau recruitment fair, which was held on Tuesday and Wednesday this week at the Venetian Macau. “The fair offered Macau residents the opportunity to explore a wide range of non-gaming career opportunities available at Sands China’s properties, including its newest integrated resort, The Parisian Macau,” said the […]

Fitch says it projects Sands China revenues and EBITDA to decline by 7 and 10 percent respectively in 2016, according to a note from the rating agency last Friday. Fitch says it also projects it will then rebound to approximately 2015 levels by 2017 as the Parisian ramps up and the Macau gaming market begins […]

Sands Resorts Cotai Strip Macao will soon be showcasing its new development, the Parisian Macau during Hong Kong’s 30th International Travel Expo and The 11th MICE Travel Expo, held from June 16 until June 19, 2016. Integrated resorts on showcase include The Parisian Macao which will open in mid-September, as well as The Venetian […]

Galaxy has called Sands China boss Sheldon Adelson “impolite” and “unprofessional” following his comments suggesting that Galaxy Phase 2 and Studio City were not as good as the Parisian, Macau Business Daily reports. Sheldon Adelson made the comments during Bernstein’s 2016 Strategic Decisions Conference last week, saying that the failure of the two properties to […]

Sands China has been focusing on providing offerings for the Meetings, Incentives, Conferences and Exhibitions (MICE) industry, and sees potential for growth in the market. The comment was made by Ruth Boston, VP of destination marketing and sales at Sands China Ltd during an interview with Macau Daily TImes in Tokyo last week. “Sands China […]

Las Vegas Sands says it is looking to add another 1,000-1,200 rooms in a new tower at its Marina Bay Sands resort in Singapore, along with an entertainment arena. “The government wants more quality entertainment,” said Adelson during the Bernstein Thirty Second Annual Strategic Decisions Conference 2016. According to the Sands chairman, the Singapore government […]

Macau operator Sands China and parent company Las Vegas Sands Corp have settled a lawsuit filed by a former chief executive. Steve Jacobs, who headed Sands’ Macau operations from 2009 to 2010 filed a lawsuit after he was wrongfully terminated by Las Vegas Sands in 2010. Jacobs contended he was wrongfully terminated by Las Vegas […]

The Macau government is reportedly tightening its visa policy for executives working in the territory’s casinos in an effort to promote more locals into managerial positions. The Human Resources Office of Macau told the Portuguese-language Jornal Tribuna de Macau that the bureau can deny requests for renewals of non-resident casino executives’ working visas if “there […]

Macau casino operator Sands China has declared a final dividend of HK$1 (US$0.13) per share for the year ended December 31, 2015. The announcement was made during the 2016 annual general meeting last Friday, held at The Venetian Macau. “Despite the challenges in the Macau market, we again delivered a strong set of financial results, […]

Macau’s Legislative Assembly has voted in favor of smoking lounges instead of a total smoking ban in the city’s gaming venues, local media reports. According to the chairman of the Legislative Assembly sub-committee, Chan Chak Mo, quoted by Lusa, only two members of the committee supported the implementation of a full smoking ban in the […]

Sources citing an official DICJ/Finance Department instruction have said that phone betting is likely to be banned in Macau, perhaps as early as next week. The instruction is believed to have been delivered, or will be delivered to all Macau operators. Phone betting is the practice of an agent (junket) or third party placing a […]

Las Vegas Sands Corp. chairman and CEO says he’s considering selling Marina Bay Sands’ retail assets after a government-imposed moratorium expires next year, Bloomberg reports. Sheldon Adelson in a conference call after LVS announced its first quarter results said the company had been speaking with potential buyers about the retail assets. “We have been approached. […]

Macau casino operator Sands China Ltd reported 16Q1 profit fell 9.6 percent year on year, the result of a challenging operating environment in Macau. The results, which were below analyst expectations, saw total net revenue for Sands China down 7.9 percent to $1.6 billion in the first quarter of 2016, compared to $1.8 billion the […]

Luxury gaming manufacturer Interblock has signed a landmark deal with Macau gaming operators Venetian Macau and Sands Macau that will bring Interblock’s flagship Diamond Product Line to both properties. The incoming installation features a combination of 21 Diamond Roulette units with 8 stations and 10 Diamond Sic-Bo units with 8 stations equipped with their latest […]

Two of Macau’s operators have changed their shuttle bus policies to require customers to produce their casino loyalty card in order to board, local media reports. The Wynn Macau and MGM China Holdings Ltd have reportedly changed their policies from March 1, which requires customers who travel on the shuttle to provide a purchase receipt […]

Casino operator Las Vegas Sands Corp has announced its former president Michael Leven has retired from the company’s board of directors, according to a SEC filing on Tuesday. Leven also plans to exit the board of its Macau subsidiary, Sands China, with both departures effective immediately. Leven was named president in 2009 in one of […]

Sands China hired more than 600 new employees during its three-day recruitment fair for its new Parisian Macao development, according to a press release. The Macau casino operator said “thousands of Macao residents” turned up at the fair, between Mar. 21 – 23. “Sands China is very pleased at the turnout for our first large-scale […]

Macau casino operator Sands China Ltd is holding its first large-scale recruitment fair for its new The Parisian Macao resort, which is scheduled to open in the second half of this year. The event will be held on March 21-22 at the Dunhuang Ballroom at Sands Cotai Central, according to a press release from the […]

March gross gaming revenue to date has been disappointing, and the weakening GGR run-rate may extend through April, says analysts. However, Bernstein says it maintains its forecast that Q1 will show quarter on quarter improvement, and Q2 may potentially be flat, with an improvement in GGR to start in towards the end of Q2 and […]

MGM China and Sands China were found to have the most efficient staff in their respective regions in Macau, according to a recent report from Morgan Stanley. Analysts compared all the operators based on company EBITDA to average number of staff ratio, and found that MGM China generated a higher EBITDA per person employed than […]

Casino operator Las Vegas Sands Corp. has once again persuaded the Nevada Supreme Court to throw out a jury award won by Richard Suen, in relation to claims that he helped Sands secure its license in Macau, local media reports. On Friday, the state court said there was not enough evidence to justify the […]

Las Vegas Sands president and chief operating officer Robert Goldstein believes room rates may fall when several new properties come on line in Macau this year, local media reports. Goldstein, who was quoted at the JP Morgan Gaming, Lodging, Restaurant and Leisure Management Access Forum in Las Vegas last week, said properties to be opened […]

The Macau Transport Bureau is aiming to cut shuttle bus routes in the territory by 20.55 percent from 73 to 58, local media reports. According to Hoje Macau who quotes the Transport Bureau (DSAT), there are currently 65 bus routes still operating, marking a decline of 11 percent. Sands China was reported to have cut […]

Macau casino operator Sands China Ltd. has recommended the payment of a final dividend of HK$1.00 (US$0.13) per share for the year ended Dec. 31, 2015 according to a recent filing to the Hong Kong Stock Exchange. The proposed final dividend is subject to the approval of the shareholders at the forthcoming Annual General Meeting […]

Macau’s casino labor group, Forefront of Macao Gaming says some of its table dealer members are worried about a potential wave of layoffs due to the city’s declining gaming industry, local media reports. According to recent statistics from Manpower Needs and Wages of the Gaming Sector which covered the fourth quarter of 2015, the gaming […]

Sands China Ltd. has launched a new career development programme for 1000 of its staff, offering them alternative jobs in non-gaming areas of its properties, according to a press release. The programme, entitled “My Way” will allow participating staff to work in several non-gaming areas, including food and beverage, security, business development, wardrobe, guest relations, […]

Macau’s gross gaming revenue for March 1-6 was MOP 3.2 billion (US$400 million), implying an ADR of MOP 533 million, down 21 percent from February’s ADR, according to a report from Bernstein. “We believe that both VIP and Mass have weakened following Chinese New Year holiday,” said analysts. Assuming an ADR of 550-600 million for […]

Sand China Ltd’s president and chief operating officer Wilfred Wong says he expects the slump in Macau’s gaming industry to end as early as this month, according to an interview with Bloomberg. “It’s scary that Macau’s gross gaming revenue has seen declines for 20 months but I have confidence the drop could end in February,” […]

Macau’s six leading casino resort operators have joined forces to offer exclusive special deals to local residents as part of a corporate social responsibility initiative. Covering a wide-range of non-gaming offerings, Macau Loves Locals features award-winning luxury hotel rooms, family-friendly shows and entertainment, refreshing spas, world-renowned Michelin-starred restaurants, and many other non-gaming elements. This new […]

District Judge Elizabeth Gonzalez will continue hearing Steven Jacobs’ case against Las Vegas Sands, as the casino firm failed to provide “new grounds to remove” Gonzalez from the case, local media reports. Chief Clark County District Judge David Barker made the ruling last week after investigating claims the Gonzalez was bias in Jacobs’ lawsuit. “This […]

Macau casino operator Sands China Ltd’s request for more time to complete its Parisian Macau development has been granted by the Macau Government, according to Jornal Tribuna de Macau. The development was originally required to be complete by April, 2016 , but has been given a seven month extension from the Directorate of the Land, […]

Macau casino operator Sands China Ltd. reported a 43 percent fall in net profit in the year ended Dec. 31, 2015, according to a preliminary announcement. The operator reported profit for the year fell to US$1.46 billion in 2015 compared to $2.55 billion in 2014, while net revenue dropped 28.2 percent to $6.82 billion. Adjusted […]

A former Sands executive is asking a federal court in Nevada to rule on the continuing legal battle over his 2010 dismissal as head of operations of the Macau-based casino, according to local media. The lawsuit, filed on Jan. 29 in a U.S. District Court in Las Vegas seeks for unspecified damages on the question […]

Macau-based Sands China Ltd has announced it will be paying a bonus to its eligible staff on Feb. 5, 2016, according to a press release from the casino operator. All full-time team members (manager or below) who joined the company before Oct. 1, 2015, and are still employed on Feb. 5, 2016, are eligible for […]

Wynn Macau has partnered with the Macao Chamber of Commerce in launching a procurement partnership programme to support local small and medium businesses, according to local media. The casino operator is the third following Sands China and MGM to answer the government’s call for gaming companies to fulfil their social responsibilities. In 2015, Secretary for […]

Las Vegas Sands posted weaker-than-expected Q4 results as the downturn in Macau continued to weigh, though chairman Sheldon Adelson said the situation there was stabilizing and held out hope for an earlier than anticipated opening for the company’s Parisian resort. Net revenue for the fourth quarter of 2015 decreased 16.2 percent to $2.86 billion, compared […]

Sands China is best placed to benefit from the paradigm shift from the VIP/high roller market to one driven by mass, given its strong non-gaming business and its dominant position on Cotai, according to Bernstein. Sands China has established a dominant position in Macau’s gaming and non-gaming market, with a more than 20 percent share […]

Macau casino operator Sands China has declared an interim dividend of HK$0.99 ($US0.127) per share, according to a filing with the Hong Kong Stock Exchange. It is expected the Interim Dividend will be paid on Friday, Feb. 26, 2016, payable to shareholders of the company whose names appear on the register of members of the […]

Shares in Macau’s casino operators started the year on a black note, with all recording sharp losses after weaker-than-expected Chinese economic data added to yet another month of steep declines in local gaming revenue. SJM Holdings was the biggest loser, closing the first trading day of the year down 4.5 percent, followed by Sands China, […]

MGM China Holdings Limited and Sands China Limited will consider increasing the pay of their staff in 2016, according to local media. MGM China CEO Grant Bowie said he had not yet made any decision about a salary hike. He was quoted as saying this year has been a difficult year for the company […]

The Campaign for Accountability has retracted an allegation that accused Las Vegas Sands Chairman Sheldon Adelson of tolerating prostitution in his casinos. The group said it regrets its request and has withdrawn its submission requesting an investigation. “The allegations relied upon in making the requests are false and we apologize sincerely for any inconvenience or […]

Sands China’s management believes the VIP business is structurally challenging and does not expect a strong rebound next year, Citi Research said following an investor conference. Citi said based on meetings at the Citi China Investor Conference on November 4, the junket business will continue to consolidate and there will be more small junkets closing […]

Galaxy led in VIP market share gain in October by 6.3 percent month on month, boosted partly by win rate and at the expense of MGM which had a strong and lucky month in September, HSBC Research said. MGM’s share dropped 5.7 percent, while Sands relatively outperformed by adding 0.9 percent to its share. Sands […]

Sands China Ltd. announced it is participating in Responsible Gambling 2015 for the seventh year with several initiatives promoting responsible gaming in the local community. The annual campaign is jointly organised by the Macao Social Welfare Bureau, the Gaming Inspection and Coordination Bureau and the University of Macau. As part of the campaign, Sands China […]

Las Vegas Sands 3Q earnings declined due to a 46-percent drop in profit at its Macau unit, though the figure was better than expected and Singapore proved a bright spot. Adjusted net income decreased to $529.8 million, or $0.66 per diluted share, compared to $675.7 million, or $0.84 per diluted share, in the third quarter […]

Sands China announced the resignation of Toh Hup Hock as chief financial officer and executive vice president of the casino operator. Toh joined the group in April 2007 and served as senior vice president of finance until November 2009. He later served as CFO and executive vice president from November 2009 and was appointed an […]

Sands China’s Parisian Macao resort in Cotai launched a topping out ceremony to celebrate the replica Eiffel Tower reaching its highest point with the placement of its dome and lantern structure. Sands China executives in attendance signed the tower’s dome before a crane lifted it into its final position amid traditional French and Chinese dancing. […]

Las Vegas Sands was the biggest loser in terms of mass market share among the U.S.-listed operators in Macau in September, according to Wells Fargo research. For the market as a whole, unadjusted mass revenue fell 33 percent year-on-year, with junket volumes down 54 percent and VIP revenue off 34 percent, the analysts said in […]

Outbound travel from China remained strong during the key Golden Week holiday, despite the depreciation of the yuan, but Macau doesn’t appear to have been a major beneficiary, at least in terms of gambling revenue. According to the China Outbound Tourism Research Institute, Hong Kong, Tokyo and Bangkok were the top three outbound tourism destinations, […]

China is studying supportive measures for Macau to revive the city’s economy, and its casino industry, the Macao Daily reported on its website Friday, citing Li Gang, director of the Chinese government’s local liaison office. No specific measures were announced but it is expected that any moves will be geared towards reviving tourism and the […]

Casino stocks traded in Hong Kong plunged to multi-year lows on Tuesday, with losses spilling over into U.S. trading, after junket operator Neptune Group warned it may be forced to exit the business, while concern over Golden Week tourism numbers added to the gloom. SJM Holdings fell almost 7 percent to a five-year low, Wynn […]

Sands China Ltd. announced the appointment of Wilfred Wong, a property development and construction expert with close ties to the Beijing and Macau governments, as the company’s new president and chief operating officer. Wong’s appointment, effective November 1, will replace Rob Goldstein, who has been serving as Sands China’s interim president since earlier this year. […]

Macau’s gross gaming revenue for the month through September 6 was MOP4.1 billion ($513.6 million), according to Bernstein Research channel checks. Last week’s average daily revenue was MOP683 million, 14 percent higher than August’s ADR of MOP601 million. “It is the most robust week since late May 2015. We believe part of the strength may […]

Famed attorney Alan Dershowitz has been recruited by Sands China Ltd. to argue that Nevada’s Supreme Court should dismiss a wrongful termination lawsuit filed by the company’s former CEO five years ago, the Associated Press reported. Dershowitz and Sands China lawyer Steve Morris argued the company is registered in the Cayman Islands and does business […]

Sands China will hold its Local Supplier Open Day as part of a support programme on August 31 at The Venetian Macao. The event will focus on three types of local businesses: small and micro enterprises, and Macau’s young entrepreneurs. Along with providing information to prospective suppliers on nearly 200 purchase items for local companies, […]

Sands China reported adjusted EBITDA of $1.09 billion for 15H1, a decrease of 36.9 percent compared to $1.73 billion in the same period the year before, the company announced Friday. Total net revenues for the group were $3.51 billion, down 30.7 percent year-on-year, while profit amounted to $734.5 million, down 46.4 percent compared to $1.370 […]

Sands China Ltd. has organised its annual Responsible Gaming Team Training Programme at The Venetian Macao for the third consecutive year, in an effort to enhance team members’ knowledge of problem gaming and awareness of the importance of responsible gaming. Certificates were presented Thursday and Friday to over 100 participating team members, who came from […]

Sands China revealed a new procurement program for local enterprises, in which the operator will invite suppliers to partner up for a range of products and services. According to the Macau Daily Times, Sands China will put out to tender about 200 items covering a broad range of categories such as operating supplies, food and […]

China suspects that Las Vegas Sands’ Macau casinos were being used by U.S. intelligence agents to entrap and blackmail Chinese officials, the U.K.’s Guardian newspaper reported, citing a confidential report for the gambling industry. The report was filed by a private investigator in 2010. “Many of the (Chinese) officials we contacted were of the view […]

Sands China Ltd.’s total net revenues decreased 25.6 percent to $1.77 billion in 15Q2, compared to $2.38 billion in the same period last year, its parent company Las Vegas Sands reported. In a filing to the stock exchange LVS said adjusted property EBITDA for Sands China Ltd. decreased 29.5 percent to $564.5 million in the […]

Las Vegas Sands will be the first of the six operators in Macau to report Q2 earnings on Wednesday, with analysts expecting a drop of about 28 percent in net profit from the year earlier. Earnings per share are expected to be about $0.61, down from $0.85 cents a year earlier, while revenue is seen […]

A U.S. judge said she won’t unseal confidential documents that could reveal business ties between Las Vegas Sands and Chinese triad gangs. District Judge Elizabeth Gonzalez, hearing a wrongful dismissal case involving former senior Sands China executive Steven Jacobs, said the reports contained sensitive commercial and gaming information that shouldn’t be made public, according to […]

Casino stocks surged in Hong Kong, after local media reported that the government may soften on plans to ban smoking rooms on gaming floors. Wynn Macau jumped 5.7 percent as of 2:01 p.m. local time, as Galaxy Entertainment Group Ltd. and Sands China Ltd. rallied at least 4.7 percent, Bloomberg reported. The stocks rose after […]

Macau’s operators are likely to see a decline of about 14 percent quarter-on-quarter and 42 percent year-on-year in their Q2 earnings before interest, tax, depreciation and amortization due to additional operating costs from new resorts, according to UBS analysts. The Q2 estimates compare to a fall in EBITDA of 18 percent QoQ and 42 percent […]

Macau GGR for the month through July 5 was MOP 3.15 billion ($394 million), while the average daily rate was MOP630 million, higher than May’s rate of MOP579 million, according to Bernstein Research. Assuming ADR of MOP600 to 630 million for the remainder of this month, Bernstein estimates July GGR to be MOP18.8 to 19.5 […]

Hong Kong-listed shares of the big casino operators in Macau are soaring after changes to visa rules allowing mainland visitors to stay seven days in Macau rather than five. A six-member index of China gaming stocks tracked by Bloomberg jumped more than 12 percent, the biggest jump since October 7, 2011, on the news. Wynn […]

Sands China Ltd. has announced a new professional development programme for its dealers that would give up to 100 dealers a chance to spend 12 months on secondment at Marina Bay Sands in Singapore. Sands China said in a press release that the voluntary programme provides dealers with overseas experience and will broaden their career […]

Macau’s casino operators will have wasted a great deal of time and money if they are forced to abandon smoking lounges in the event of a blanket smoking ban, according to local media. The lounges were located to make them convenient, so that the customers could see them from all areas in the casino, said Mel […]

Sands China Ltd. was ranked 99th in Newsweek magazine’s Top Green Companies in the World 2015, which examines the world’s 500 largest publicly-traded companies and ranks them on corporate sustainability and environmental impact. Sands China came second globally in the list’s Hotels, Restaurants & Leisure category, and was second among the 56 companies representing mainland […]

Sands China Ltd. held its 2015 Annual General Meeting Wednesday at The Venetian Macao, passing all proposed resolutions, including the declaration of a final dividend of HK$1 per share. In addition, shareholders received the audited consolidated financial statements of the Company and the reports of the directors and auditors for the year ended December 31, 2014. […]

Macau’s six casino operators jointly announced the findings of an independent study into the attitudes towards proposed tobacco control legislation, which would ban all smoking inside casinos, saying a majority of employees back the retention of smoking lounges. The initial results of the study, conducted on behalf of Galaxy Entertainment Group, Melco Crown Entertainment, MGM […]

One of the longest-running and highest-grossing Broadway shows of all time, Disney’s Beauty and the Beast opened in Macao for its limited run at the Venetian Theatre. The classic love story, starring Hilary Maiberger as Belle and Darick Pead as the Beast, tells the story of Belle and a young prince trapped by a spell […]

A Clark County district judge in the U.S. has been petitioned by two organizations to unseal documents that potentially reveal business ties between Chinese triads and Las Vegas Sands, according to media reports. The motions were filed by Guardian News & Media, publisher of the British newspaper The Guardian, and the Campaign for Accountability, a […]

Melco Crown Entertainment Ltd. is leading the decline in Hong Kong trading, down 5.1 percent to HK$50.85, after stocks tumbled amid several analysts slashing their forecasts for June’s gambling revenue in Macau, Bloomberg reported. It’s the biggest loss in three months for Melco Crown, while Wynn Macau Ltd. lost 4.5 percent, Galaxy Entertainment Group Ltd. […]

Macau table-only gross gaming revenue was MOP3.3 billion ($410m) from June 1 to June 7, according to checks made by Sterne Agee. Including slot assumptions, the June GGR run rate indicates a decline of 46 percent year on year, or MOP14.6 billion. Sterne Agee analyst David Bain said the results are disappointing given the recent […]

Sands Resorts Cotai Strip Macao announced that it has entered into a long-term strategy partnership with Lander Real Estate Co., Ltd., to co-develop sporting events both nationally and abroad. Dave Horton, global chief marketing officer of Las Vegas Sands Corp. and Sands China Ltd, said the partnership comes at a time when sport is becoming […]

Sands China said it is calling on all workers involved in the construction of The Parisian Macao to exercise restraint and act reasonably following a recent labour dispute between workers and the appointed construction manager and trade contractors of the project. “The company will do everything it can to ensure the implementation and protection of […]

A Nevada judge has ruled that an unfair dismissal case brought against Las Vegas Sands and its chairman Sheldon Adelson should be heard in a U.S. court and not in Macau. Steven Jacobs, former CEO of Adelson’s Sands China unit filed the lawsuit claiming that he was sacked for trying to break links to organized […]

Sands China Ltd. issued a statement expressing its concern regarding a recent incident in the construction of The Parisian Macao in which construction workers twice gathered in front of the Liaison Office over the weekend to protest for compensation after they were fired by the construction company. About 60 Chinese workers, fired by Hsin Chong […]

Singapore’s Marina Bay Sands took the top prize in the first All Asia Dealers Championship held at G2E Asia in Macau, beating 15 teams to win the All-Asia team award after 3 days of stiff competition. Judged in baccarat, blackjack and roulette, the team scored high marks in all areas which included technical skills, guest […]

Investors are still not cautious enough on Macau gaming stocks despite the sell off that has resulted in a 37 percent underperformance relative to Hong Kong’s benchmark Hang Seng Index this year, Morgan Stanley says in a note. “While sell side is generally negative, we see investors are inclined to add positions. We see further […]

At press conference held on Tuesday May 12, 2015 in Macau, the All Asia Dealers Championship (AADC), taking place concurrently with G2E Asia 2015 and hosted by Asia Gaming Brief and Reed Exhibitions, announced the details of the competition. In all, fourteen teams, totaling over 50 Dealers, from Macau and across Asia have already confirmed […]

Nepalese team members of Sands China Ltd have raised MOP81,000 ($10,150) to go towards helping relief efforts following an earthquake that devastated their country last month. Mukesh K. Barruwal and representatives of the Nepalese team from Sands China presented the cheque to the Macau Red Cross, the Macau Daily Times reported citing a press release […]

Sands China Ltd announced it will be providing an additional, complimentary transportation service for its non-resident construction workers living in mainland China. Beginning May 11 the company is dispatching an extra fleet of shuttle buses to transport the workers to and from Gongbei in Zhuhai and the company’s construction sites in Cotai via the Lotus […]

Sands China reported its latest quarterly figures, with profit decreasing 54.2 percent to $344.6 million in 15Q1 after all its properties saw big declines in revenue. The company’s total net revenue decreased 35 percent to $1,759.6, while adjusted EBITDA fell 43.3 percent to $531.5 million compared to $937.4 million in the first quarter of 2014. […]

Las Vegas Sands reported weaker-than-expected Q1 profit and revenue, pulled down by a slump in its Macau gaming operations. Group net revenue for the first quarter of 2015 decreased 24.9 percent to $3.01 billion, missing forecasts for $3.2 billion, according to analysts polled by Capital IQ. Adjusted net income decreased to $531.1 million, or $0.66 […]

Nine finalists showcased their baccarat, blackjack and roulette skills in front of a cheering crowd of fellow team members at Sands China Ltd’s Dealer Skills Championship at The Venetian Macau last week. Man Weng Ip, Wang Zhen Han and Un Wai Kin were crowned the winners in the baccarat, blackjack and roulette categories, respectively. Each […]

Morgan Stanley Research predicts Macau will see another sequential decline in EBITDA of 14 percent QoQ and 38 percent YoY in 15Q1 , with no signs of a turnaround. “We expect Macau gaming companies to see declines in EBITDA in 1Q15 of between 8-18% QoQ or 37- 41% YoY, similar to revenue decline of 14% […]

Sands China Ltd. announced that its subsidiary VML US Finance LLC has entered into a new loan agreement with lenders for $1 billion due to be transacted at the end of this month. “The Company is pleased to announce that on April 10, 2015, (the “Borrower”), an indirect, wholly-owned subsidiary of the Company, entered into […]

The Nevada Supreme Court has given Sands China Ltd. a temporary reprieve from monetary sanctions levied against the company last month, the Las Vegas Review-Journal reported. In March, a district judge ordered sanctions against Sands China for improperly withholding documents in a wrongful termination case filed by the former president of Sands Macau, Steven Jacobs. […]

A Nevada judge has imposed sanctions on Sands China Ltd. due to the company’s failure to present key documents in a lawsuit concerning the termination of its former president Steven Jacobs. Judge Elizabeth Gonzalez filed a 40-page ruling on Friday, in which she ordered Sands China, a subsidiary of Las Vegas Sands, to ensure the […]

Following lower than expected mass margins in the fourth quarter last year, Sands China Ltd. will continue to see margin headwinds as a “new theme” for the company, according to Morgan Stanley Research analysts. “We see margin headwinds as a new theme for Sands for 2015: We reduce our [price target] from HK$42 to HK$38 […]

Sands China said it will pay a bonus on Feb. 16, 2015, to all eligible full-time team members. Among all eligible full-time team members, over 27,000 of them who completed at least one year of full service, will receive a bonus at least one month’s salary. The year 2014 witnessed record earnings and record service […]

Las Vegas Sands disclosed Friday that Sands China CEO and president Edward Tracy will retire effective March 6. Tracy has served as CEO and president since July 2011 and previously held the role of president and chief operating officer from July 2010 to July 2011. Tracy will serve as a consultant for Sands China starting […]

Morgan Stanley says Macau labor costs may be lower than the 10 to 15 percent increase most operators had been predicting for 2015 as casinos take measures to trim spending, though it sees rising capex costs and construction delays potentially reducing the return from Phase 2 projects. In a note, the U.S. bank said it […]

A secret investigation by Sands China of Macau government officials may be revealed if a Nevada court allows the documents to be used in a case of wrongful dismissal, according to a Bloomberg/Businessweek report. Steven Jacobs has been fighting a wrongful termination lawsuit since being fired as head of Sands China in 2010, the report […]

As the Covid-19 crisis descended upon, first, China, then the world, the six Macau operators have not been idle in their CSR efforts, in spite of the mandated casino closures and reopenings under difficult economic conditions.

Looking at the Chinese New Year visitation figures for Macau, it’s difficult not to be pessimistic about the near-term outlook for gaming in Asia, though analysts say underlying demand remains strong and there is likely to be a snap back once the situation improves.

Macau’s operators have stepped up their corporate social responsibility (CSR) efforts in recent years, in particular when it comes to China cultural cooperation, which may help their case when it comes to concession renewal.

As concern mounts about the global environment, many of Asia’s giant IRs are taking significant steps to minimise their impact, investing heavily in green technologies and other waste control initiatives.

The first of Macau’s six casino concessions expire in less than 18 months, though the operators who have invested billions in the territory still have no clarity as to how, or even if, those licenses to operate will be renewed.

Macau gaming stocks are feeling the heat from the trade war between the U.S. and China, falling to their lowest levels in a year, with some analysts cutting their growth forecasts on concern for a slowdown in China’s economy.

Alongside a rebound in gross gaming revenue, Macau is enjoying a boom in retail sales, with operators seeking to drive further growth through innovative concepts, such as pop-up shops and retail cafes.

Macau’s sixth Legislative Assembly elections will take place on Sunday, with gaming-related candidates proposing more concessions, a social fund and better workers’ rights as part of their platforms. Seven gaming-linked candidates are competing as part of a 24-strong field for the 14 available seats.

Macau saw a 62 percent spike in MICE visitation in the first quarter, helped by government subsidies, though the territory still faces considerable hurdles to reach its full potential as an events and exhibitions destination. Macau has lost out to regional rivals due to a lack of hotel capacity, limited venues, poor transport links and a branding problem and although problems are gradually being addressed progress is slow.

Macau’s gaming stocks have rebounded to trade at two-year highs, tracking the recovery in gross gaming revenue, however analysts warn against over optimism, saying growth may be nearing its peak, at least in the short term.

The dramatic slump in Asia’s VIP revenue over the past two years has forced operators to trim costs and diversify income sources to plug the gap. While much of the focus has been on boosting non-gaming and tapping into the mass market, companies have also been looking at ways of unlocking shareholder value through monetizing extensive fixed assets. From real estate spinoffs, to timeshares and outright sales, many options are being considered.

Ask many mainland Chinese what their dream travel destination is and the answer is unlikely to be Macau. According to a survey by CLSA, Macau came bottom out of a list of 21 destinations, with Europe, the U.S. and Australia topping the list. So, could Sheldon Adelson have hit upon a winning formula with his latest resort -- the $2.8 billion Parisian? The property, like its sister next door, aims to bring a little bit of Europe to the Cotai strip, providing a taste of all things French without the lengthy voyage and language complexities.

Macau’s six casino operators will begin reporting Q2 results later this month, with analysts expecting a mixed bag. Though operators say they are seeing signs of stabilization in the market, that is unlikely to be reflected in the bottom line, at least for now. The consensus is that revenues and EBITDA will fall from the prior quarter and will hit the lowest level in five years.

Macau’s tourism development masterplan, which aims to transform the VIP gaming hub into a mass market, diversified leisure destination, forecasts as many as 40 million tourists a year by 2015. The blueprint contains a clear vision of what the government wants for the future, with tourists staying longer and spending more on non-gaming activities. However, tourism industry experts say Macau as a family destination faces significant headwinds and stakeholders still haven't reached consensus on what brand Macau should be.

Macau industry observers, gaming analysts, and even casino operators are now admitting that the decade-old party has run out of steam, if not over. The “build it and they will come” maxim and its attendant hubris that has characterized the Macau gaming industry since 2003 are now causing deep concern to operators and investors alike. To counter the downturn, the knee-jerk reaction has been to cut costs, directly affecting customer service. This could be a disastrous strategy. According to a recent Gartner study, 89 percent of the companies surveyed will be competing on the basis of customer experience in 2016, nearly a three-fold increase from five years ago.

Macau’s casino operators have already cut the low hanging fruit when it comes to reducing operating costs and are now struggling to further pare expenses as the slump in the market drags into its 19th straight month.With labour cuts not an easy option in Macau, the casinos face a juggling act in scaling back customer service standards without losing the customer. They are looking for creative ways to cut back behind the scenes and make every penny count.

The Macau Chief Executive is the ultimate government authority in determining policy, licensing and regulating the operation of casino games of chance and other gambling activities in Macau. In exercising such powers, the Macau Chief Executive is assisted by the Gaming Inspection and Coordination Bureau, best known for its Portuguese acronym “DICJ”.

At this year’s Macau Gaming Show, experts were called upon to ponder whether Macau, the world’s largest gambling hub, can follow the example of Las Vegas and transform itself into an entertainment capital for the mass market.Views varied, but the one common thread was that it was going to be a long and painful transition. While Las Vegas revenue crumbled over a period of years following the financial crash of 2007, the Macau market has fallen off a cliff in little over a year largely as a result of a government policy decision in neighbouring China. That creates challenges for those trying to reinvent the market.

Loyalty programs have been in vogue in the casino industry for around thirty-five years, but are operators in Macau and Singapore getting the most from their offerings?Taking a leaf from grocery stores’ discount cards and the frequent flyer programs of airlines, the basic model of a “slot club” was implemented in 1980s. Then in 1997, Harrah’s (now Caesars) rolled out a loyalty card program called Total Rewards, which tracks customers' gaming activity and gives them rewards to encourage them to spend more money at the slots and tables. Done properly, these programs can be a goldmine, but many operators are not getting their money's worth.

Macau’s retail malls, dominated by the luxury brands favored by high rolling mainland Chinese, are turning to more affordable High Street names as VIP revenue falls, but the shift is unlikely to have a major impact on operators’ profits, analysts say.Although retail revenues have moderated in Macau, the downturn has been less severe than the slump in overall gross gambling revenue, which dropped 36.2 percent in June, declining for the 13th consecutive month. Las Vegas Sands also reported strong growth in its retail operations in Q2, though future success may hinge on getting the brand mix right.

Macau’s casino operators, who have put up a united front in opposing a proposed blanket ban on smoking, may have won a battle with signs the government is softening its stance, but have not yet won the war.After appearing firm in its resolve to make smoking in casinos a thing of the past, the government has mellowed its tone and says it will consider keeping the lounges. But the onus will be on the operators to prove they are not harmful to health and that may be a tough call.

Macau Chief Executive Fernando Chui Sai On sent a clear message to the casino industry in the first policy address of his second term in office this week - the government is no longer just paying lip service to diversifying the economy away from gambling. The territory, which in just over a decade has grown its industry to be more than seven times the size of Las Vegas, is currently dependent on gambling for 85 percent of its income. However, after nine straight months of declining revenue that triggered a 17 percent contraction in Q4 gross domestic product, Chui said the industry is going through a phase of “adjustment.”The territory, which in just over a decade has grown its industry to be more than seven times the size of Las Vegas, is currently dependent on gambling for about 85 percent of its income. However, after nine straight months of declining revenue that triggered a 17 percent contraction in Q4 gross domestic product, Chui said the industry is going through a phase of “adjustment.”The government has cut its projected revenue from gambling receipts this year to average 20 billion patacas ($2.5 billion) a month from 27.5 billion patacas, while analysts are forecasting a second year of contraction, possibly by as much as 30 percent, according to Deutsche Bank.In his address, Chui said the government will strengthen its oversight of the casino industry as licenses come up for renewal and may require the companies to regularly submit their investment and development plans for review, in particular with regard to non-gaming activities. A tourism panel, under Chui’s supervision, will draft a five-year plan for stable casino growth that will make the region less reliant on casino revenue. Macau, Chui said, will become a center of tourism and leisure travel.

As the first quarter comes to a close, there seems to be little reprieve for Macau’s battered casino stocks, with analysts continuing to cut estimates on the back of weak Chinese New Year revenue and an ongoing stream of negative news.
Although the February fall in gross gaming revenue was the worst on record at almost 49 percent, it wasn’t as bad as some had been expecting. Still the consensus is that the market has not reached a bottom as yet. Comments from both analysts and operators continue to reflect longer-term optimism, but agree there remains little near-term visibility.
“February was very weak especially given Chinese New Year and a lot of analysts are revisiting their forecasts,” said Alex Bumazhny, an analyst at Fitch Ratings, which this week predicted a 4 percent decline for 2015 GGR. “The market is banking on a slow down in premium mass and on the whole it’s not looking so good for 2015.”
It’s also unclear as to whether the regional operators which saw a sharp uptick in Q4 VIP revenue as high rollers fled Macau, will continue to benefit as China pledges no let up in its anti corruption drive.
JP Morgan in a recent report cut its earnings and share price target estimates by 25 percent and said it now expects an 18 percent decline in 2015 GGR, while Deutsche Bank issued perhaps the most bearish forecast so far, predicting a 30 percent drop and slapping a sell rating on the Macau five operators apart from SJM Holdings, which was already rated sell.
JP Morgan said it doesn’t expect a pick up in share valuations until April, pointing also to a series of regulatory overhangs in the market. Deutsche Bank says the GGR decline may extend into 2016.
The Macau government will conduct an interim review of the gaming sector this spring and may provide more clarity on new table allocations to casinos. It is also likely to discuss the issue of inbound mainland visitors with Beijing and whether their movements will be further restricted. The government last year clamped down on transit visas to third country destinations and has said it may review the Individual Visa Scheme.
“We believe the market would not give the benefit of the doubt, until such regulatory issues are proven to pass without any significant surprises,” the bank said.
Citi is more upbeat, saying it believes the market may be at a turning point, but still sees no signs of recovery in the VIP sector. The firm recently cut its forecasts for 2015 market GGR to negative 16 percent, from its prior estimate for a drop of 4 percent.
The Q1 results will follow on from a set of financial statements for Q4 that, while gloomy, were largely in line with expectations.
“The results were more or less consistent with what we expected,” Fitch’s Bumazhny said. “Wynn lost some market share and that appears to have continued in Q1 which is a concern.”
Wynn Macau, which currently has just one highly VIP focused property, posted the biggest drop in quarterly revenue so far. (Galaxy Entertainment will report on March 19th and SJM Holdings didn’t split out Q4 figures).
Net revenues were $761.2 million, a 32 percent decrease from the $1.12 billion generated in the fourth quarter of 2013. Adjusted property EBITDA in the fourth quarter of 2014 was $241.2 million, down 35.5 percent.
VIP turnover was down almost 40 percent, however the group has been renovating its casino floor which resulted in a drop in VIP tables to 244 in Q4 from 273 in the prior year. That renovation, which includes the addition of two VIP rooms and a new relationship with top junket operator Sun City, was scheduled for completion ahead of the Chinese New Year.
Despite the weak Q4 for Wynn, analysts are generally reasonable bullish about its outlook.
Sterne Agee’s David Bain wrote in a recent report that his buy recommendation on the stock remains intact and that investors have given little credit for its renovations and still less “to a top tier junket operator occupying one of its rooms that currently does not do business at its facility.”
Bain and analysts at Citi also pointed to the fact that the opening of its new Wynn Cotai will be transformational for the company. Citi said the new property is likely to be the “premier” resort on Cotai, although the company indicated in its Q4 earnings call that the opening may be delayed.
MGM China’s Q4 was also weaker than most had expected. Revenue fell 22 percent to $719 million, while adjusted EBITDA dropped 22 percent to $185 million.
Like Wynn, MGM also cut Macau VIP tables in the quarter to 195 from 235. VIP table games revenue dropped 39 percent, while mass floor revenue jumped 19 percent, reflecting an increase in main floor games up to 228 from 195. UBS analyst Robin Farley points out the mass performance in the quarter was “impressive,” above the firm’s 18 percent growth forecast and the market consensus for a drop of 16 percent.
The group said it remains on schedule for the planned opening of MGM COTAI in 2016. The expected total development cost is approximately HK$23 billion, excluding land costs and capitalized interest. It also announced plans to spend $100 million on revamping the main floor at its existing MGM Macau.
Sands China as expected benefited from its bias towards the mass market and its higher capacity than other operators.
Total net revenue declined 16.2 percent in the quarter to $2.12 billion, while adjusted property EBITDA decreased 14.7 percent to $713.2 million. Mass revenue was down 9 percent, while premium mass was down 17.5 percent. VIP volume was down 42 percent.
“In Macau, we like its peer-high weighting to mass gaming (higher visibility and margins than VIP), peer-high hotel room capacity amidst strong visitation growth and gaming position lead in Cotai,” Sterne Agee’s Bain said.
The company noted on its earnings call that there is room for improvement to its Q4 margin of 34 percent going forward, as the drop in the mass market was so rapid towards the end of the year that it had not had time to adjust expenses.
However, analysts also noted that the company is no longer giving a specific time frame for the opening of its Parisian Macau resort, saying that the target remains “sometime in 2016.” UBS’ Farley says that the U.S. casino giant will need the Macau government to approve more labor to achieve that date.
Melco Crown saw its Q4 revenue drop 20 percent, although again analysts are slightly more upbeat about the company’s prospects given the opening of its Studio City property later this year. The consensus view is still that added capacity will drive growth, although Deutsche Bank’s latest note even casts doubt on this theory.
The opening of two new gaming venues this year isn’t expected to boost demand, and the market is underestimating pressure on casino operators’ profit margins, the German bank’s analysts noted this week.
Melco’s adjusted property Ebitda was down 29 percent to $278.6 million.
SJM’s annual gaming revenue dropped 8.8 percent to HK$79.3 billion, but CEO Ambrose So said it had been a challenging year, with a deterioration in the last half. So said that investors should not expect any sharp rebound in casino earnings in 2015, although is cautiously optimistic that revenue will stop falling in the second half of the year.
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MPE

In an earnings conference call in April 2019, Las Vegas Sands President and Chief Operating Officer Robert Goldstein declared, “Our commitment to Japan is immense. It will be lots and lots of rooms—many, many rooms. There will be lots of retail. There will be lots of MICE, far beyond what people understand we're thinking about for Japan… We are deep into it. We're committed to it. We have a team on the ground there.

Creating games specifically for mobile phones has become essential to success in Asia, which has been quick to adopt new technology, though differences in the quality of internet speeds can prove to be challenging.

Asia Gaming Brief is an intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia. AGB's extensive network of regional advisors ensures that the intelligence you receive is real, topical and based on fact.